CME Group announced plans to expand its battery metals suite with the launch of a Spodumene CIF China (Fastmarkets) Futures contract on October 28, 2024, pending regulatory review. This new contract aims to enhance hedging capabilities for market participants across the lithium value chain. The initiative responds to the rapidly evolving battery metals space.
The company is already a leader in providing risk management tools for the battery metals industry, with open interest in Lithium Hydroxide futures surpassing 30,000 contracts this year. Open interest in Cobalt Metal futures also remains robust and extends through 2028. The addition of Spodumene futures will further solidify CME Group's position in this critical sector.
This product launch demonstrates CME Group's commitment to responding to market needs as the clean energy market grows. It provides essential price transparency and risk management solutions for key materials in the battery supply chain. The new futures will be financially-settled and listed by COMEX.
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